The Dangote Petroleum Refinery has announced an upward adjustment in the pricing structure for Premium Motor Spirit (PMS), commonly known as petrol.
In a statement titled “Communication on PMS Price Review”, released on Friday, 17 January, 2025, the refinery revealed that the new bulk purchase rate for customers buying between 2 million and 4.99 million litres will now stand at N955 per litre. Bulk buyers acquiring 5 million litres or more will enjoy a slightly lower rate of N950 per litre.
This adjustment marks a 6.17% increase, or an additional N55.5 per litre, compared to the discounted price of N899.50 per litre offered during December 2024’s festive period.
The revised rates, effective from 5:30 PM Friday, will apply to all unsold stock balances and pending orders, according to the refinery’s notice.
The refinery attributed the price hike to the continued rise in global crude oil prices. Brent crude oil, the international benchmark, recently surged to $81.84 per barrel, marking its highest level in 2025.
“Effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit. All stock balances yet to be lifted as of the above-stated time are to be repriced at the new rates,” the notice read.
Customers were assured of further communication regarding revised volumes and pricing adjustments.
